Groups Canvass Insurance Inclusion in Maritime Practice

Esther Oluku

The Center for Financial Reporting in collaboration with Insurance Publication Limited have canvassed the need to raise insurance awareness in the maritime business environment.

Making the call at the 2023 Insurance Awareness Seminar tagged: “Transformational Journalism in the Digital Age: Deepening Insurance Awareness Through Inclusive Reporting”, lead speaker and Senior Advocate of Nigeria, Mr. Omogbai Omo-Eboh harped on the need to spread the word on reforms which encourage vessels operating on Nigerian waters to patronise indigenous Insurance firms thus increasing the capacity of the Nigerian insurance industry to take on insurance of high financial risk.

Continuing, he noted that while fake brokers and false insurance certificates have increased, prospects and clients should be wary of entrusting their resources to imposters by ensuring that brokers who they choose to engage have the National Insurance Commission (NICOM) before entrusting them with their resources.

He added that importers who invest huge resources to bring goods into the country should as a matter of safety ensure that such goods are insured to mitigate against losses which may occur in transit.

Omo-Eboh also while lamenting lack of patronage from International Oil Companies and Cabotage vessels. He stated that many IOCs are insured abroad while trading in Nigeria leading to capital flight which could have been used to increase the capacity of the indigenous insurance firms.

Speaking also at the Programme, the Founder TechNext, Anderson Ozakpo, shared the need to incorporate modern technological trends in remaining relevant as journalists in a world rapidly being taken over by robots.

Ozakpo noted that innovation and continuous learning play a critical role in staying on top of one’s profession and encouraged media professionals on the need to embrace social media channels in delivering their services to a wider audience.